2 eBook References On June 1, Cline Co. paid $1,003,000 cash for all of the issued and outstanding common stock of Renn Corp. The carrying amounts for Renn's assets and liabilities on June 1 follow: Cash Accounts receivable Capitalized software costs Goodwill Liabilities Net assets Multiple Choice O On June 1, Renn's accounts receivable had a fair value of $197,000. Additionally, Renn's in-process research and development was estimated to have a fair value of $225,000. All other items were stated at their fair values. On Cline's June 1 consolidated balance sheet, how much is reported for goodwill? O $79,000 $406,000. $ 203,000 271,000 406,000 $43,000 122,000 (181,000) $ 821,000

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